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US-Urology Devices Market Size - By Product Type (Endoscopes, Laser & Lithotripsy Devices, Accessories, Dialysis Devices and Other Devices), By Application (Urolithiasis, Urethral Malignancies, Bladder Disorders, Kidney Diseases, and Others), By End-user (Hospitals & Ambulatory Surgical Centers, Dialysis Centers, and Others) and By Region: Global Forecast till 2033

  • PUBLISHED ON
  • 2023-12-08
  • NO OF PAGES
  • 209
  • CATEGORY
  • Healthcare & Life Sciences

Market Overview

US-Urology Devices Market is projected to achieve a value of USD 13.2 Billion in 2023, with a linear behavior in the market growth it is forecasted to achieve a value of USD 24.2 Billion by 2033 with a CAGR of 6.3% during the forecast period 2024-2033.

 

SOURCE: We Market Research

Urology devices are specialized medical instruments used to identify, treat, or manage disorders pertaining to the male reproductive system and urinary system. These devices support a variety of treatments such as urinary catheterization, stone removal, and prostate interventions. They include catheters, stents, endoscopes, and lithotripters. Improving patient care and treatment outcomes, they are essential in treating illnesses including kidney stones, prostate problems, incontinence, and other urological disorders.

The U.S. urology devices market is influenced by several noteworthy variables. Robotic-assisted operations and minimally invasive procedures are examples of technological advancements that enhance accuracy and patient outcomes. The growing prevalence of urological disorders such kidney stones and urine incontinence is fueling the market's rise. The aging population, escalating healthcare expenses, and expanding knowledge of urological problems all contribute to the demand for innovative technologies. Together, these components support urology research and development as well as market expansion.

Market Scope

Report Attributes

Description

Market Size in 2023

USD 13.2 Billion

Market Forecast in 2033

USD 24.2 Billion

CAGR % 2024-2033

6.3%

Base Year

2023

Historic Data

2016-2022

Forecast Period

2024-2033

Report USP

 

Production, Consumption, company share, company heatmap, company production capacity, growth factors and more

Growth Drivers

Ongoing advancements in medical technology, including minimally invasive and robotic-assisted surgical techniques, contribute to the growth of the urology devices market.

Increased awareness of urological conditions and the importance of early diagnosis have led to a higher demand for diagnostic devices.

The overall growth in healthcare spending, both globally and in specific regions, supports investments in advanced medical devices, including those used in urology.

Segments Covered

By Product Type, By Application ,By End-user and By Region

Regional Scope

North America

Country Scope

U.S

US-Urology Devices Industry:  Dynamics & Restrains

Market Drivers

Rising Prevalence of Urological Disorders - The key driver of the expansion of the U.S. urology devices market is the rising incidence of urological illnesses among the populace. The prevalence of diseases such kidney stones, urological malignancies, and incontinence is rising as a result of aging populations and changing lifestyles. There is an increased need for urological equipment as a result of this increase in cases, which calls for sophisticated diagnostic and therapeutic techniques. As a result, market expansion is in line with the critical requirement for novel devices that address diagnosis, management, and treatment, propelling ongoing innovations to satisfy the changing needs of the urology healthcare sector.

Continuous advancements in technology - The U.S. urology devices market is growing rapidly due in large part to ongoing technical improvements. Advances in robotic-assisted surgeries, minimally invasive procedures, and imaging technology improve patient outcomes, therapeutic precision, and diagnostic accuracy. These developments enable more effective urological treatments, shorter recovery periods, and less intrusive procedures. Additionally, the advancement of urology technology has led to the creation of advanced instruments that enable medical professionals to diagnose and treat patients more effectively, such as endoscopes and laser systems. The market is driven by the ongoing advancements in technology, which fulfill the increasing need for advanced, effective, and patient-friendly urology equipment.

Market Restrains

Lack of Skilled Professionals - A major barrier to the growth of the US urology devices market is the scarcity of qualified professionals. For example, to fully utilize robotic-assisted surgical equipment, one must possess specialized understanding about complex technologies. Lack of training or deficiencies in the expertise of healthcare professionals prevent the broad use of these state-of-the-art technologies. The efficient deployment of these technologies is hindered by healthcare organizations' inability to fully utilize sophisticated urology equipment due to a shortage of skilled workers. To overcome this limitation, it is critical to create extensive training programs and initiatives that equip healthcare professionals with the know-how needed to fully realize the potential of these state-of-the-art urological technologies and guarantee their seamless integration into clinical practice.

US-Urology Devices Segmentation

Market- By Product Type Analysis

By Product Type, the US-Urology Devices Market is Categories into Endoscopes, Laser & Lithotripsy Devices, Accessories, Dialysis Devices and Other Devices. The Accessories segment accounts for the largest share of around 35% in 2022.


The accessories category held the largest market share for urological devices in the United States due to the growing interest of significant manufacturers on developing innovative urological products for the market. Furthermore, rising patient visits to urology clinics and the growing use during the projection period, it is anticipated that the use of dilators and catheters for treatment in urology clinics will stimulate segment expansion.

The following segments are part of an in-depth analysis of US-Urology Devices Market:

Market Segments

 

By Application

·         Urolithiasis

·         Urethral Malignancies

·         Bladder Disorders

·         Kidney Diseases

·         Others

By End-user

·         Hospitals & Ambulatory Surgical Centers

·         Dialysis Centers

·         Others

Pointers Covered

The US Urology Devices Market Analysis Report provides a comprehensive analysis of the market. The report discusses market segmentation, DROS, and the product portfolios of the key market player companies in the US industry. It also provides the launch or research of new drugs, moreover advancements in the sector including collaborations, mergers, and acquisitions, as well as the impact of the COVID-19 pandemic on the market. The study also offers insights into market trends and an analysis of industry dynamics.

Competitive Analysis

The US-Urology Devices Market is dominated by a few large companies, such as

·         Siemens Healthcare GmbH

·         Ambu A/S

·         Ethicon, Inc.

·         Boston Scientific Corporation

·         KARL STORZ SE & Co. KG

·         Olympus Corporation

·         Coloplast A/S

·         Fresenius Medical Care AG & Co

·         Stryker

·         Cook Medical

There are some of the key trends that are shaping the competitive landscape of the US-Urology Devices Market

·         March 2022, In an effort to increase its market share, Strive Medical, a U.S.-based supplier of urology products, announced the purchase of U.S. Medical Supply's urology section. U.S. Medical Supply is a subsidiary of Advanced Diabetes Supply ("ADS").

 

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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

Frequently Asked Questions

What is the market size of US-Urology Devices Market in 2022?

US-Urology Devices Market was valued at USD 24.2 Billion in 2022.

What is the growth rate for the US-Urology Devices Market?

US-Urology Devices Market size will increase at approximate CAGR of 6.3% during the forecasted period.

Which are the top companies operating within the US-Urology Devices Market?

Major companies operating within the US-Urology Devices Market are Siemens Healthcare GmbH, Ambu A/S, Ethicon, Inc., Boston Scientific Corporation, KARL STORZ SE & Co. KG, Olympus Corporation, Coloplast A/S, Fresenius Medical Care AG & Co, Stryker, Cook Medical.

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